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The Federal Reserve better be careful with their rate hike strategy. Because they are tightening economic policy into an economy and housing market in a very precarious position. New data from the BLS shows that job openings have plummeted by 22% YoY. While ZipRecruiter is saying that companies are now beginning to cut wages.
At the same time – the unemployment rate in America is now increasing. WIth CNBC reporting that there was a surprise increase in the unemployment rate in August.
Signals that the economic downturn is likely to get worse. Especially in neighborhoods like the one in this video in Los Angeles. In this area in South Central LA home prices crashed by 50% in the last downturn due. Could home prices here crash by that much again?
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